On July 8th, Goldman Sachs released a research report. According to their "Weekly Chart of New Energy Vehicles", the recommended retail prices of new energy vehicles in China and the discounts offered by new energy vehicle dealers were well-controlled and stable during May and June, while discounts for traditional combustion engine vehicle dealers continued to expand into the second quarter of this year. Goldman Sachs observed that the penetration rate of new energy vehicles in China peaked at 51% during the first week of June, but dropped to 44% the following week. Therefore, Goldman Sachs predicts that the price constraints on new energy vehicles will be temporary, and competition may intensify in the third quarter of this year as a response to the price reductions of traditional combustion engine vehicles. Goldman Sachs believes that Chinese auto prices appear to be disciplined and gross margins are expected to recover, and it gives "buy" ratings to BYD Company Limited, Geely Auto's Zhiji Auto, and Xpeng.
大行评级｜高盛：新能源汽车价格战或在第三季加剧 予比亚迪、极氪、小鹏汽车“买入”评级
Goldman Sachs: Price war in new energy autos may intensify in the third quarter. Buy ratings for BYD Company Limited, Xpeng, and new energy fund.
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